This assignment is intended to help you learn to do the following: Identify the advantages, disadvantages, and tax treatments of different wealth transfer vehicles. Select appropriate trusts used in estate planning. Apply appropriate transfer vehicles to minimize taxes in given cases. Compare the characteristics of different trust arrangements. Select appropriate charitable contribution method for clients. 1.refer to cody & Reeses case in chapter 6 of estate planning 2. Providing the following estate objectives of cody and Reese:To maximize their estate tax savings -to provide the surviving spouse with a stream of income -to pass all their assets to their daughter after the surviving spouse does or remarries -to start a college savings plan for their daughter -to donate some of their assets to charity 3. Write a 2 page recommendation report in which you need to: -. Apply proper estate planning techniques to help them reach their goals - provide detailed rationale that supports your recommendation cey a fios wort mariad yeas ago and had oae child, Amber. Cody and his longtime friend. cost reet menty thing in Kandis sew plane. For a brief period, Kandi was distracted and lay consisl of te plane Unformately, the plane crashed and Kandi died instantly and Cody dief . - Tenunal noidence viluad at $500.000 held tenancy by the entirety. The home had an eein mad the followias prsperty . Manding mortsys of $200,000. - Cat 1 raloed at $10,000 held fee simple by Cody. - Cr 2 ralued at $15,000 beld joint tenancy with rights of survivoship by Cody ans - Diamond ring valued ar $50, 000 held fee cimple by Reese. Artier: - Bour valued at $20,000 held tenancy in common by Cody and Amber (equal contuites - Life launnoe Policy 1 on Recie's life owned by Cody. The fair market value of the poly ion). was $100,000 and the death bencfit was $200,000. The beneficiary is Amber. - Lift Inarance Policy 2 on Cody's life, awned by Cody. The fair market value of the poling wa 585,000 and the death benefit was $500,000. The only beneficiary is Kandi. - IRA acoount valued at $4,500,000 owned by Cody with Amber as the beneficiary. - Inewable Trest by Cody for the benefit of Amber created five years ago. The tratin wi. ued at $500,060, and Amber is the beneficiary ar Cody's death. There were no tatatle ifo on the initial or absequent transfers to the trust. Nsee Ueles obtenvis rated, assume equal contributions were made by all parties for joilte onand properry. The acoileet was found to be the fast of the plane manufacturer, therefore, Cody's heirs retevid $100.000 for wrongful death and $500,000 for his pain and suffering. Cody's last medical expento wete $40000, hin funeril expenses were $30,000, the administrative fees for the extare weft $100000, and he had miating debts of $100,000. Cody's will left $100,000 to a qualifying chatip? ad the remaining pecbate asets to Rese. His will states that debts and expenser will reduse the.